The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has reaffirmed the Nigerian government’s commitment to private-sector-led growth as the World Bank unveiled its latest Nigeria Development Update (NDU), titled Building Momentum for Inclusive Growth.
Commending the World Bank as a vital development partner, Edun highlighted the value of its technical assistance and concessional financing through the International Development Association (IDA). “We’d like them to continue and to give us more of that to boost us on our way,” he stated.
The Minister pointed to progress in fiscal transparency and a resurgence of investor confidence across strategic sectors. “It is investment that grows the economy, creates high-quality jobs, and lifts millions of Nigerians out of poverty,” he emphasized.
According to the World Bank, Nigeria is expected to achieve a growth rate of 3.6% in 2025—its strongest economic performance in a decade—driven by improved revenue mobilisation and increasing foreign reserves. “There is a lot to be positive about on Nigeria,” said Taimur Samad, Acting Country Director, while urging continued monetary discipline to keep inflation in check.
Published twice annually, the Nigeria Development Update is the Bank’s flagship economic report, offering data-driven insights to inform policymaking.
As Nigeria accelerates its drive for inclusive growth, the synergy between strong government reform and international support positions the country to harness its full economic potential through sustained investment and sound policy.